Dependents in your household must be identified and claimed in your tax returns.

The FICO score for all non-dependent members that will be on the loan to purchase the home must be at least 640.

All applicants must complete a HUD certified homebuyer education course prior to purchasing the home. The program administrator can give you the names of organizations that provide this education service.

What Are Your Next Steps?

This home is available on a first-come, first-served basis; there will not be a lottery. Eligible buyers will be chosen for program review based application submission date/BAAHA's program eligibility determination.

Click here to print out a quick guide of the steps that you will need to take. The basic steps include:

View the units at scheduledopen houses:

Contact the listing agent, Zack Torrey, for open house dates and time. Click here to e-mail Zack.

Questions about the property: For additional information regarding the real properties in Bay Point, contact the listing agent:

Zack Torrey

Realtor

J. Rockcliff Realtors, Inc.

DRE#: 01433553

EmailQuestions about the below market rate program: For additional information regarding the homebuyer application process and on the general restrictions and requirement to purchase this home please contactTim Zhovreboff

128 Crivello Avenue in Bay Point is part of Contra Costa’s below market rate home inclusionary purchase program. This property has restrictions that apply to its purchase and ownership.The Bay Area Affordable Homeownership Alliance (BAAHA) is the program administrator overseeing all County related matters associated with the sale of Contra Costa County BMR homes. 128 Crivello Avenue is available to households earning up to 120% of Contra Costa County's Area Median Income (AMI):

What Are the Advantages of Purchasing a 128 Crivello Ave?Owning a below market rate (BMR) home in Bay Point may provide you distinct buying opportunities and advantages that you may not have in purchasing a similar non-restricted home.These primary advantages include:

The selling price is fixed. It is set by the County and cannot be bid up.

The terms you offer to buy the home do not affect your ability to participate in the purchase. Accordingly, you will not be competing against buyers that are trying to buy in all cash.

The buyer of this home will be chosen on a first-come, first-served basis based on eligiblity and application submission date.

Households that meet or fall under the 80% AMI limit for Contra Costa County may be able to secure additional homebuyer assistance in the form of a $15,000 loan.This loan will turn into a grant after five (5) years of owner occupancy.

What Are the Key Ownership Restrictions?This home has 3-year resale restriction term that starts when the homebuyer closes escrow. Owners who purchase a below market rate property must adhere to the following ownership restrictions for 3 years after purchase:

The property must be owner occupied – it cannot be rented out

The property can only be resold to an income eligible household. Buyers must have a gross household income which is at or less than the required Area Median Income (AMI) for Contra Costa County

Any new buyer of the property must have at least three people in the household (this includes dependents)

You cannot refinance your property for an amount greater than the first loan amount you received at the time you purchased the property

The county will assign the resale price of the property if the property is sold before the 3 year resale restriction is terminated

All of the above restrictions will fall off the property at the end of the 3-year term.

What Are the Eligibility Requirements to Purchase the Property?Buyers must meet the following eligibility requirements to be able to purchase this property:

Based on the property's maximum AMI requirement, gross household income from all non-dependent household members must not be over120% of the Area Median Income (AMI) assigned to Contra Costa County. See table below: